My wish list for Budget 2007

Here is my personal wish list for budget 2007

1. I wish to see more incentive to encourage people to make additional savings for their retirement. This can be made through the supplementary retirement scheme (SRS). I suggest that, in the case of citizens, the contribution to SRS be allowed up to 10% of the taxable income.

2. I hope to see a full restoration of the 3% cut in the employer's contribution to the Central Provident Fund, to be made over the next one or two years.

3. I hope to see more public funds be channelled towards reducing the cost of public transport. This can be done by reducing the operating costs and fees for buses and taxis. This will allow the operators to reduce their charges. It will encouarge more people to use public transport, instead of owning their private cars. It will help to reduce the traffic congestion on our road.

4. I wish to see a higher quantum of workfare bonus to encourage older people to continue to work, and to supplement the income of the lower wage earners. This will help to reduce the gap between the high and low income workers. I also wish to see the workfare bonus paid monthly, rather than at the end of the year. The payment can be made by the employer and reimbursed by the government.

Tan Kin Lian
(in my personal capacity)